Independent governor candidate Bud Chiles faces seven lawsuits from failed construction investments/business ventures, a new report states. Meanwhile Republican candidate for U.S. Senate Marco Rubio claims he settled with a bank that was foreclosing on a home he co-owned with a fellow politico, U.S. House candidate David Rivera, according to the Palm Beach Post.
Chiles blamed the recession for spoiling his business plans. Most of the suits are foreclosures or allegations that Chiles and his partners did not pay leases for construction equipment. “When the market values dropped by 50 percent or 60 percent, then your management skills are not going to make up the difference,” Chiles told the paper.
Rubio and Rivera did not pay their mortgage for five months after their adjustable rate increased. Rubio’s spokesman said the lawmakers disputed the new calculations. Both men settled the outstanding $138,000 bill with a $9,200 payment, the spokesman said, although that was not reflected in the court record.